In financial work, many peers are keen to learn Xi various tax planning skills, hoping to reduce the tax burden for the company and become an indispensable talent in the eyes of leaders. However, some basic tax policies and risks are often overlooked, such as the neglect of invoicing for bank charges.
Invoicing for bank charges is an issue that is often overlooked. Many financial personnel believe that with a bank receipt, there is no need for an invoice. However, from a tax point of view, bank receipts and invoices are quite different. Bank charges are VAT taxable items, and according to the regulations of the State Administration of Taxation, unless there are special circumstances, the invoice must be used as a pre-tax deduction voucher.
Without invoices, companies may face two main problems. First, the company will not be able to enjoy the input tax credit. For example, if there are bank charges of $1.06 million, then it is equivalent to a loss of $60,000 in input tax. Secondly, this part of the expenditure may not be deducted as a pre-tax deduction for corporate income tax, resulting in an increase in income tax. Taking 1.06 million as an example, it could result in 26The income tax will be increased by 50,000 yuan.
If the tax office finds this problem during the inspection, not only will you need to pay back taxes, but there may also be late fees and penalties. This is undoubtedly a mine buried for enterprises.
So, what if the bank is reluctant to issue an invoice? According to the Measures of the People's Republic of China for the Administration of Invoices, units and individuals that sell goods and provide services shall issue invoices to the payer. The bank refuses to issue invoices, and the tax bureau will not let the enterprise go because of the bank's reasons during the review. So, you have to ask for an invoice.
So does the interest income obtained from corporate deposits need to be invoiced to the bank? According to the regulations, interest income is not taxable, so there is no need to issue invoices.
What about the loan interest, do you want to get an invoice? Loan interest also needs to be invoiced, but only ordinary invoices are required, as loan interest is currently not deductible for input tax.
Finally, if you want to reissue last year's bank charges invoice now, there is still a chance. Whether it is VAT or income tax, as long as the invoice is issued within the specified time, the corresponding tax treatment can be carried out.
In general, the day-to-day financial work is not only about high-end tax planning, but also about dealing with these basic tax issues. Financial work is like a risk brake, and you need to pay attention to these seemingly inconspicuous details at all times to avoid unnecessary troubles and losses to the business. Therefore, as financial professionals, we should continue to learn Xi and update our knowledge base in a timely manner to cope with the ever-changing tax environment.
Knowledge of finance and taxation